MasterCraft Boat (NASDAQ:MCFT) Upgraded at StockNews.com

StockNews.com upgraded shares of MasterCraft Boat (NASDAQ:MCFT) from a sell rating to a hold rating in a research note released on Wednesday morning.

Several other equities analysts have also recently issued reports on the company. Robert W. Baird reiterated a “neutral” rating and issued a $20.00 price objective (down previously from $26.00) on shares of MasterCraft Boat in a research note on Friday, April 4th. DA Davidson decreased their price target on shares of MasterCraft Boat from $23.00 to $22.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Baird R W downgraded shares of MasterCraft Boat from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. B. Riley raised shares of MasterCraft Boat to a “hold” rating in a research report on Wednesday, February 12th. Finally, Truist Financial lowered their target price on shares of MasterCraft Boat from $22.00 to $16.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.60.

MasterCraft Boat Stock Performance

Shares of MCFT stock opened at $16.00 on Wednesday. MasterCraft Boat has a fifty-two week low of $14.39 and a fifty-two week high of $23.00. The company has a 50 day moving average price of $17.20 and a 200 day moving average price of $18.37. The stock has a market capitalization of $268.05 million, a P/E ratio of -40.00 and a beta of 1.34.

MasterCraft Boat (NASDAQ:MCFT) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. MasterCraft Boat had a negative net margin of 2.29% and a positive return on equity of 3.74%. On average, research analysts forecast that MasterCraft Boat will post 0.62 EPS for the current fiscal year.

Insider Activity at MasterCraft Boat

In other news, major shareholder Fund L.P. Forager bought 11,172 shares of MasterCraft Boat stock in a transaction dated Thursday, April 17th. The stock was acquired at an average cost of $15.82 per share, with a total value of $176,741.04. Following the acquisition, the insider now owns 1,724,941 shares of the company’s stock, valued at approximately $27,288,566.62. This trade represents a 0.65 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in shares of MasterCraft Boat in the 4th quarter valued at $108,000. Tower Research Capital LLC TRC grew its position in MasterCraft Boat by 260.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 6,210 shares of the company’s stock worth $118,000 after purchasing an additional 4,487 shares during the last quarter. SG Americas Securities LLC increased its stake in MasterCraft Boat by 10.7% in the fourth quarter. SG Americas Securities LLC now owns 7,673 shares of the company’s stock valued at $146,000 after purchasing an additional 742 shares during the period. GAMMA Investing LLC increased its stake in MasterCraft Boat by 6,422.7% in the first quarter. GAMMA Investing LLC now owns 8,610 shares of the company’s stock valued at $148,000 after purchasing an additional 8,478 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of MasterCraft Boat by 7.5% in the fourth quarter. JPMorgan Chase & Co. now owns 7,837 shares of the company’s stock valued at $149,000 after buying an additional 544 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

MasterCraft Boat Company Profile

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through MasterCraft, Crest, and Aviara segments. The MasterCraft segment produces premium recreational performance sport boats primarily used for water skiing, wakeboarding, wake surfing, and general recreational boating.